1. Overview

A personal or stakeholder pension might be right for you if:

  • you want to save money for retirement on top of your workplace pension
  • you’re self-employed and don’t have access to a workplace pension scheme
  • you aren’t working but can afford to pay into a pension
  • your employer offers it as a workplace pension

Personal and stakeholder pensions are private pensions that you arrange yourself. You pay money into a pension fund which you use to buy a regular income when you retire.

Sometimes employers set up group personal or stakeholder pensions for their employees.

Personal pension providers must be registered with the Financial Conduct Authority (FCA). Stakeholder pensions must be registered with the Pensions Regulator.

When you can get your pension

The earliest age you can get a personal or stakeholder pension is usually 55, depending on your arrangements with the pension provider or pension trust. You don’t have to be retired from work.

There is help available for choosing the right pension scheme.

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